Ukraine Receives $500 Mln From the World Bank 

by Olha Povaliaieva
Wednesday, October 26, 2022
Ukraine Receives $500 Mln From the World Bank 

Financing of the International Bank for Reconstruction and Development supported by guarantees from the UK

On September 30, the main lending department of the World Bank, the Bank for Reconstruction and Development, announced the allocation of $500 million to cover urgent needs provoked by the Russian war. The money is likely to be allocated for infrastructure restoration (in particular, the restoration of energy infrastructure) and social needs (salaries).

Russia has been waging war against Ukraine for 8 months. Ukraine has suffered colossal human, economic and infrastructural damage during this time. To discuss the post-war restoration of Ukraine, a conference was held in Berlin, at which Olaf Scholz announced the Ukrainian analogue of the Marshall Plan. On the eve of this conference, the WB announced the allocation of half a billion tranche for Ukraine.

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